00:10 Speaker A
Time now for to watch Wednesday, October 29th.
00:14 Speaker A
We’re going start off on the earnings front. It is a big week for Big Tech with three magnificent seven names reporting on Wednesday. That’s Microsoft, Alphabet and Meta.
00:24 Speaker A
Microsoft announcing its first quarter results after the closing bell. Analysts expecting the company to say it’s spending even more money to build out its AI and cloud infrastructure.
00:31 Speaker A
Capital spending also in focus for analysts. That could rise by as much as 15 billion in 2026 marking a nearly 45% increase from 2025.
00:41 Speaker A
But before the earnings fireworks of course, the Fed is concluding its October FOMC meeting and announcing its interest rate decision. Wall Street largely expecting the central bank to cut rates by 25 basis points on Wednesday.
00:53 Speaker A
Yahoo Finance will be begin coverage of the Fed decision at 2:00 p.m. Eastern.
00:58 Speaker A
And finally, President Trump is meeting with his Chinese counterpart Xi Jinping in South Korea, the summit coming amid continuing trade tensions between the two countries
01:08 Speaker A
but Treasury Secretary Mnuchin saying on Sunday that there is a very substantial framework for a trade deal.
